Legal Aspects of Real Estate Course Syllabus

Transcription

1 Legal Aspects of Real Estate Course Syllabus Chapter 1: An Introduction to Law and the Legal System The Role of Law The Roots of U.S. Law Criminal and Civil Law Sources of Law Constitutions Legislatures: Statutory Law The Courts: Case Law Administrative Agencies Chapter 2: Resolving Legal Disputes A Real Estate Dispute: Green v. Taslow Negotiated Settlement Alternative Dispute Resolution Litigating in Court Determining the Proper Court for Trial: Jurisdiction How a Lawsuit Begins Discovery Motions The Trial Enforcing Judgments The Appeal Chapter 3: Real Property Nature of Property Real Property vs. Personal Property Natural Attachments Fixtures Appurtenances Chapter 4: Estates in Land Possessory Interests Classification of Estates Freehold Estates Estates of Inheritance Life Estates Leasehold Estates

2 Term Tenancy Periodic Tenancy Tenancy at Will Tenancy at Sufferance Contingent Interests Chapter 5: Co-ownership of Real Property Forms of Co-ownership Tenancy in Common Undivided Interests Rights and Duties of Tenants in Common Terminating a Tenancy in Common Joint Tenancy Creating a Joint Tenancy Liens and Joint Tenancy Right of Survivorship Terminating a Joint Tenancy Community Property Who Can Own Community Property? Classifying Property as Separate or Community Changing the Character of Separate Property Spousal Control over Community Property Distribution of Community Property on Dissolution or Death Community Property with Right of Survivorship Ownership by Business Entities Business Entities: the Basics Considerations When Choosing a Form of Organization Chapter 6: Agency Law Agency Law and the Real Estate Profession Agency Relationships in Real Estate Transactions Agency Authority and Liability Scope of Authority Actual and Ostensible Authority Warranty of Authority Liability Issues Delegation of Agency Authority: Subagency Creation of an Agency Relationship Agency Formation and Contract Law Intent to Create an Agency Methods of Creating an Agency Relationship Termination of an Agency Relationship

General Exam Content Outline for Salespersons Effective April 1, 2014 The general portion of the real estate exam is made up of eighty (80) scored items, which are distributed as noted in the following

63-Hour Sales Associate Pre-License Course Course Outline and Time Line The following detailed course outline is based on 63 one classroom hour sessions consisting of 50 minutes each. Time Detailed Course

PURCHASE AND LEASING OF REAL PROPERTY IN THE UNITED STATES A. INTRODUCTION By David L. Berkey, Partner Gallet Dreyer & Berkey, LLP Attorneys at Law New York City, USA The purchase and/or leasing of real

Chapter 22 Special Stipulations and Other Clauses in the Sales Contract INTRODUCTION A real estate sales contract contains numerous stipulations and clauses which expand the agreement between the seller

ARE 306 EXAM II November 4, 1999 Select the best answer. You may use one 3x5 card of notes, handwritten, front and back, and no other materials. 1. An easement is a nonpossessory interest in real property

EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT (VACANT LAND) This EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT ("Agreement") is entered into (Date), between as Seller(s) ("Seller") of the property described below

FLOATING HOME RESIDENCY LAW (As of 1/1/91) This booklet provides a summary and the actual wording of the Floating Homes Residency Law of California, as of January 1, 1991. The summary (in large type) is

DO I NEED A LAWYER WHEN I BUY OR SELL MY HOME? September 1, 2001 This information is provided as a service to the home buying and home selling public by the Colorado Bar Association (Real Estate Law Section)

QUESTIONS AND ANSWERS REGARDING DISCLOSURE OF AGENCY AND INTERMEDIARY PRACTICE The following questions and answers have been developed to assist licensees in complying with the disclosure of agency and

Real Property Contracts Key Clauses Parties, including the names of Buyer and seller (including marital status if two of them are married) Name of the agent or broker Corporate information if either side

RESIDENTIAL PROPERTY MANAGEMENT & LEASING AGREEMENT THIS AGREEMENT is entered into by and between (Owner) and (Broker) day of and upon approval by both Owner and Broker as evidenced by their signatures

GENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422 TYPES OF HOMES Buying a house will be one of the biggest investments one will ever

Real Estate Leasing: Missouri Mark Murray, Armstrong Teasdale LLP This Article is published by Practical Law Company on its PLC Law Department web service at http://us.practicallaw.com/8-500-5319. A Q&A

NORTH AMERICAN TITLE COMPANY Like Clockwork www.nat.com/cfpb UNDERSTANDING THE NEW LOAN ESTIMATE AND CLOSING DISCLOSURE FORMS American Title, we want to make sure all of our customers have the information

American Land Title Association Endorsement 32-06 (Construction Loan Loss of Priority) Adopted 2-3-11 ENDORSEMENT Attached to Policy No. Issued by 1. Covered Risk 11(a) of this policy is deleted. 2. The

BUYING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422 BUYING A HOME Buying a home may be the biggest single investment of your lifetime. An entire life's savings

The Landlord - Tenant Relationship Presented by Title Stream I. Overview of Lease Law Lease Defined Essential Elements of a Lease What is a Lease? A lease is an agreement which legally binds both the lessor

Farm Lease Agreement Disclaimer: This Agreement has been prepared for general information purposes only and is intended to provide a starting point for farmers, as they develop Agreements for use in their

REAL ESTATE PURCHASE CONTRACT FOR LAND This is a legally binding contract. If you desire legal or tax advice, consult your attorney or tax advisor. EARNEST MONEY RECEIPT Buyer offers to purchase the Property

EQUITY SHARING AGREEMENT This Equity Sharing Agreement (the Agreement ) is entered into as of the date set forth below by and between a California nonprofit corporation (the Church ), and (the Occupant

NEW YORK STATE BAR ASSOCIATION Rights of Residential Owners and Tenants Caution: The information in this pamphlet is intended as a general guide for informational purposes only, not as legal advice. Special,

Sources of law and information 1. What are the main sources of real estate law? The main sources are the: Civil Code. Real Estate Act 1998. Mortgage Act 1946 (governs mortgage agreements and other in rem

Landlord-Tenant Law FOR RENT The Landlord-Tenant Act In 1974, the Nebraska Legislature passed the Uniform Residential Landlord and Tenant Act. This law governs oral and written agreements for residential

Buying a Home 1 2 INTRODUCTION Buying a home may be the biggest single investment of your lifetime. Your life s savings may be invested in this one venture. Thus, it is extremely important that you, the

16-Hour Continuing Education Internet Course Registration Form This form is designed to be filled out electronically in Microsoft Word. After completing this form, please print out and return (along with

Policy No.: 20-07-HI-H- AMERICAN LAND TITLE ASSOCIATION HOMEOWNER S POLICY OF TITLE INSURANCE FOR A ONE-TO-FOUR FAMILY RESIDENCE Owner s Information Sheet Your Title Insurance Policy is a legal contract

KREC s NEWSLETTER: KENTUCKY REAL ESTATE NEWS INDEX Compiled from a review of KREC newsletters from 2002 to present; Addresses some of the frequently-asked questions received by the KREC Legal Department;

Commercial Net Lease for Entire Building 1. Names. This lease is made by, Landlord, and, Tenant. 2. Premises Being Leased. Landlord is leasing to Tenant and Tenant is leasing from Landlord the following

STANDARD SUBLEASE AGREEMENT 1. Parties. This Sublease, dated, for reference purposes only, 20 is made by and between (herein called Sublessor ) and (herein called Sublessee ). 2. Premises. Sublessor hereby

COMMERCIAL REAL ESTATE PURCHASE CONTRACT This is a legally binding contract. It has been prepared by the Utah Association of REALTORS for the use of its members only, in their transactions with clients

MARYLAND STATUTORY FORM LIMITED POWER OF ATTORNEY PLEASE READ CAREFULLY This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal).

FAQ for Tenants & Their Attorneys 1. How much notice must California tenants receive if evicted because of foreclosure? Answer: Usually 90 days. CCP 1161b(a) provides that a tenant or subtenant in possession

The Lease Owner s Advisory is a resource provided by the Arizona Association of REALTORS Residential Rentals are required to comply with the Arizona Residential Landlord/Tenant Act: http://www.azhousing.gov/azcms/uploads/publications/landlord%20tenant%20act%20-12-31-12.pdf

NON-RESIDENTS PURCHASING REAL PROPERTY IN THE U.S. A. The Attorneys Role in the Purchase of Real Estate The purchase of real estate in the U.S. without the proper assistance can become a complex transaction.

Questions and Answers on: O F F E R A N D A C C E P T A N C E The purchase contract is the most important document in any real estate sale. It must reflect the entire agreement between the buyer and seller.

ROGER K. SHERRILL, R.E. TUTOR, ALL TRUE NEVADA LAW The Division CANNOT step in and take control of a broker s trust account without a court order. They must pursue an injunction by court action. Salespersons

This Contract is between: RESIDENTIAL REAL ESTATE PURCHASE CONTRACT Name THE SELLER And THE BUYER Name PROPERTY 1.1 The Property is the Land, Buildings, Unattached and Attached Goods located at (municipal

3. RECEIVED OF 4. VACANT LAND PURCHASE AGREEMENT This form approved by the Minnesota Association of REALTORS, which disclaims any liability arising out of use or misuse of this form. 2009 Minnesota Association

AGREEMENT FOR THE PURCHASE AND SALE OF CONDOMINIUM UNIT NUBANUSIT NEIGHBORHOOD AND FARM, A CONDOMINIUM This agreement is made this day of, 2007, between Nubi River Partners, LLC (SELLER) of 6 School St.,

WHAT IS TITLE INSURANCE? A title is the collective ownership records of a piece of real estate, including the transfer of any property rights and any loans using the property as collateral. A clear line

Landlord/Tenant Frequently Asked Questions What Types of Claims Are Filed? Where Do I File a Landlord/Tenant Complaint? How Do I Go About Filing a Landlord/Tenant Complaint? What Are the Filing Fees? How

The law of real estate covers the many issues of ownership, use, and possession of real property. Buying and selling a house, condominium, or cooperative are the most common situations people face with

THIS IS A LEGALLY BINDING AGREEMENT. IF NOT UNDERSTOOD, SEEK LEGAL ADVICE. This contract form has been prepared by the Nebraska Real Estate Commission. It is intended to include provisions common to most

SUBLEASE AGREEMENT THIS SUBLEASE AGREEMENT is entered into on, 20 by and between ("SUBLESSOR ), with an address of and, ("SUBTENANT"), currently located at (the Parties ). FOR VALUABLE CONSIDERATION, the

Actual Rate: The Actual Rate is the annual interest rate you pay on your loan (sometimes referred to as the note rate ), and is the rate used to calculate your monthly payments. Adjustable Rate Mortgage:

WHAT YOU SHOULD KNOW ABOUT BUYING A HOME IN A CONDOMINIUM, COOPERATIVE, OR HOMEOWNERS ASSOCIATION Montgomery County, Maryland Commission on Common Ownership Communities 2011 WHAT YOU REALLY NEED TO KNOW

PROPERTY MANAGEMENT AGREEMENT THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT - READ IT CAREFULLY ("Owner"), and BloodhoundRealty.com, LLC, ("Agent") agree as follows: 1. APPOINTMENT OF AGENT: The Owner

Glossary of Title Insurance Terms abstract of title The condensed history of the title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances

TENANTS AND FORECLOSURE: QUESTIONS AND ANSWERS ABOUT RIGHTS FOR LOUISVILLE RENTERS The mission of the Legal Aid Society is to pursue justice for people in poverty. This booklet provides general information

20 Most Frequently Asked Landlord-Tenant Questions This summary is provided by the Landlord-Tenant Commission and the City of Burbank so that residential landlords and tenants in the community are educated

NEW YORK STATE BAR ASSOCIATION LEGALEase Rights of Residential Owners and Tenants Caution The information in this pamphlet is intended as a general guide for informational purposes only, not as legal advice.

Buying and Selling a Home in South Dakota A Consumer Guide MISSION STATEMENT The South Dakota Real Estate Commission is a regulatory body charged with administering the real estate licensing act, the timeshare

PSI Topic Exam Questions The following questions serve as additional practice for the PSI exam. The answers/explanations are located in the back of this supplement. Property Law 1. Title to real estate

Your Lease - What does it all mean? Your lease is a substantial document. What follows is an attempt to explain some of the standard terms of a lease. It does not replace you reading it, in full, and satisfying

THE LIMITED PRACTICE OFFICER EXAM SUGGESTED STUDY TOPICS REVISED JULY 2009 The following suggested study topics have been prepared by the. Since the successful examinee will be engaged in the limited practice

WHAT YOU NEED TO KNOW ABOUT BUYING AND SELLING A HOME This brochure will outline laws and issues that affect consumers in their purchase and sale of real property LOAN ISSUES Predatory Lending There are

INSTRUCTIONS HAFA Short Sale Agreement Defines the terms and conditions of a short sale, including the following: listing agreement, maximum real estate commissions and marketing terms; servicer and borrower